this post was submitted on 14 Feb 2025
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[–] [email protected] 6 points 6 days ago* (last edited 6 days ago)

I mean US sanctions will force companies to use it, if it ever becomes real. Think like Huawei wanting to sell stuff to Russia, but US threatens to kick any bank out of swift that trades with Russia. So then they would have this Brics-$ to circumvent that. That's the whole point. US is sanctioning so many countries that there is a need for alternative, not that USD/swift is bad system for those using it. USD needs replacing because it has become a Washington's geopolitical sledgehammer and a chokepoint to free flowing world trade. Even Putin said that only reason they have been reduing dollar usage, because they have been barred from using it, not because they are particularly eager to do it by itself.

Companies would want it because it would a one way to secure their profits and nation's would want it because it frees them from the unilateral sanction sledgehammer.